Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Aug. 15, 2016 | |
Document and Entity Information | ||
Entity Registrant Name | CANNASYS INC | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2016 | |
Amendment Flag | false | |
Entity Central Index Key | 1,417,028 | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 66,548,517 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
Entity Incorporation, Date of Incorporation | Aug. 25, 1999 | |
Trading Symbol | mjtk |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Current Assets: | ||
Cash | $ 1,054 | $ 7,720 |
Accounts receivable | 995 | 4,550 |
Total Current Assets | 2,049 | 12,270 |
Property & equipment, net | 3,766 | 5,178 |
Software license | 255,000 | 255,000 |
Available for sale securities | 32,500 | 32,500 |
Equity investment in MHB, Inc., net of impairment of $1,846,515 | 1,049,475 | 1,049,475 |
Deposit | 1,500 | |
Total Assets | 1,344,290 | 1,354,423 |
Current Liabilities: | ||
Accounts payable | 237,076 | 123,676 |
Accrued expenses | 133,092 | 51,274 |
Notes payable | 186,717 | 200,000 |
Convertible notes payable, net of discount of $23,338 and $122,084, respectively | 401,595 | 152,966 |
Total Current Liabilities | 958,480 | 527,916 |
Total Liabilities | 958,480 | 527,916 |
Stockholders' Equity: | ||
Preferred stock, $0.001 par value, 5,000,000 shares authorized, no shares issued | ||
Common stock, $0.001 par value, 75,000,000 shares authorized, 63,887,364 and 21,176,045 shares issued and outstanding, respectively | 63,887 | 21,176 |
Additional paid-in capital | 7,788,149 | 6,422,017 |
Accumulated deficit | (7,466,226) | (5,616,686) |
Total Stockholders' Equity | 385,810 | 826,507 |
Total Liabilities and Stockholders' Equity | $ 1,344,290 | $ 1,354,423 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Statement of Financial Position | ||
Common Stock, par or stated value | $ 0.001 | $ 0.001 |
Common Stock, shares authorized | 75,000,000 | 75,000,000 |
Common Stock, shares issued | 63,887,364 | 21,176,045 |
Common Stock, shares outstanding | 63,887,364 | 21,176,045 |
Preferred Stock, par or stated value | $ 0.001 | $ 0.001 |
Preferred Stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred Stock, shares issued | 0 | 0 |
Impairment of equity investment in MHB, Inc. | $ 1,846,515 | |
Convertible notes payable, discount | $ 23,338 | $ 122,084 |
Condensed Statements of Operati
Condensed Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Income Statement | ||||
Sales revenue | $ 22,489 | $ 18,491 | $ 58,651 | $ 28,248 |
Cost of goods sold | 2,854 | 24,260 | 3,218 | |
Gross Margin | 22,489 | 15,637 | 34,391 | 25,030 |
Operating Expenses: | ||||
Stock based compensation expense | 109,500 | 485,467 | ||
Professional fees | 112,241 | 18,839 | 212,427 | 96,980 |
Salary and wage expense | 45,177 | 110,770 | 134,701 | 236,854 |
General and administrative | 90,646 | 56,900 | 130,021 | 104,191 |
Total Operating Expenses | 357,564 | 186,509 | 962,616 | 438,025 |
Loss from Operations | (335,075) | (170,872) | (928,225) | (412,995) |
Other expense: | ||||
Interest expense | (8,630) | (451) | (16,455) | (678) |
Interest expense - debt discount and loan financing fees | (323,349) | (415,849) | ||
Loss on issuance of convertible debt | (478,239) | (489,011) | ||
Total other expense | (810,218) | (451) | (921,315) | (678) |
Loss before provision for income taxes | (1,145,293) | (171,323) | (1,849,540) | (413,673) |
Net loss | $ (1,145,293) | $ (171,323) | $ (1,849,540) | $ (413,673) |
Basic and diluted loss per common share | $ (0.03) | $ (0.02) | $ (0.07) | $ (0.04) |
Weighted average number of common shares outstanding | 30,097,359 | 11,073,750 | 25,848,180 | 11,065,621 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Cash flow from operating activities | ||
Net loss | $ (1,849,540) | $ (413,673) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 1,412 | 1,396 |
Stock-based compensation | 485,468 | |
Amortization of debt discount | 415,849 | |
Severance expense | 33,717 | |
Loss on issuance of convertible debt | 489,011 | |
Change in operating assets and liabilities: | ||
Accounts receivable | 3,555 | (3,806) |
Prepaids | 2,828 | |
Other assets | (1,500) | (66,750) |
Related-party payable | (1,320) | |
Accounts payable | 120,003 | (15,318) |
Accrued expenses | 84,359 | (17,767) |
Net cash used in operating activities | (217,666) | (514,410) |
Cash flows provided by investing activities | ||
Cash flows from financing activities: | ||
Contributed capital | 100,000 | |
Proceeds from loans | 217,500 | |
Payments on loans | (6,500) | |
Net cash provided by financing activities | 211,000 | 100,000 |
Net increase (decrease)in cash | (6,666) | (414,410) |
Cash at beginning of the period | 7,720 | 525,720 |
Cash at end of the period | 1,054 | 111,310 |
Supplemental Disclosures: | ||
Interest paid | ||
Income taxes paid | ||
Supplemental disclosure of noncash activities | ||
Common stock issued for software license | 58,250 | |
Common stock issued for services | 101,875 | $ 50,000 |
Issuance of convertible notes payable | $ 753,114 |
Note 1 - Organization and Descr
Note 1 - Organization and Description of Business | 6 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 1 - Organization and Description of Business | NOTE 1 ORGANIZATION AND DESCRIPTION OF BUSINESS Organization We were organized as a Nevada corporation on August 25, 1999. On August 15, 2014, we entered into an Agreement and Plan of Merger to combine our business and activities with CannaSys, Inc., a privately held Colorado corporation focused on providing services to the cannabis industry ("CannaSys-Colorado") (the "Merger"). CannaSys-Colorado was originally formed on October 4, 2013, as a limited liability company, and converted to a corporation on June 26, 2014. Under the terms of the merger agreement, our wholly owned subsidiary formed to effectuate the Merger was merged with and into CannaSys-Colorado, the surviving entity, which then became our wholly owned subsidiary. Due to the CannaSys-Colorado shareholders controlling us after the Merger, CannaSys-Colorado was considered the accounting acquirer. The transaction was therefore recognized as a reverse acquisition of us by CannaSys-Colorado. The accompanying condensed financial statements are those of CannaSys-Colorado for all periods prior to the Merger. In connection with the closing of the Merger and after meeting the requirements of the Securities Exchange Act of 1934, as amended ("Exchange Act"), on November 12, 2014, we filed amended and restated articles of incorporation with the Nevada Secretary of State that: (i) changed our name to CannaSys, Inc.; (ii) increased our authorized capital stock to 80,000,000 shares, consisting of 75,000,000 shares of common stock and 5,000,000 shares of preferred stock; (iii) authorized 5,000,000 shares of preferred stock; and (iv) made other modernizing, nonmaterial changes to our articles of incorporation. Changing our corporate name to CannaSys, Inc. was a condition to the Merger transaction. The name change better reflects the nature of our principal business operations and it became effective in the OTC market on December 2, 2014, when FINRA announced the name change. We have also received a new CUSIP number and our trading symbol was changed to "MJTK." Nature of Business We provide technology services in the ancillary space of the cannabis industry. We do not produce, sell, or handle in any manner cannabis products. As the current cannabis industry grows and gains momentum around the country, technology needs for the industry have been largely underserved. Our focus on this niche element of the industry creates many efficient and profitable tools for both industry owners and consumers. Our business consists of four products currently in the marketplaceBumpUp Rewards, BumpUp Rewards White Label, CannaLIMS, and MHB, Inc. Branded Productsthat together serve the entire cannabis industry from grower-wholesaler to end-user. We developed BumpUp Rewards as an affiliate-based membership rewards loyalty program designed specifically for the cannabis industry. An early version of BumpUp Rewards was introduced into the market as CannaCash in July 2014. The BumpUp Rewards application is free for customers and an efficient use of marketing dollars for dispensaries and providers. The BumpUp Rewards application allows for strong social media ties and an electronic solution for providing gifts, points, and discounts to friends and family. BumpUp Rewards includes an internal control mechanism designed to comply with the regulatory requirements applicable to individual retail outlets and customers based on applicable state licensing information and customers' locations. For retail establishments, BumpUp Rewards offers the ability to gain new customers through gifts, retain customers through the affiliate and store-specific points program, and tailor specials and free advertising via the BumpUp Rewards program to an increasingly significant customer marketplace. On December 22, 2015, we entered into a joint software development and marketing agreement with National Concessions Group, Inc., the organization responsible for marketing and branding a cannabis product brand called O.penVAPE. We are jointly developing and marketing an advanced, white-label version of our BumpUp Rewards application with functionality intended to incentivize product and corporate sales organizations through a proprietary points system. We are exploring the patentability of this product in collaboration with National Concessions Group. The BumpUp Rewards white-label application, downloadable in both iOS and Android devices, became available for download to consumers in beta format in March 2016. The application provides many of the features of traditional loyalty programs, including the ability for both consumers and "budtenders" (retailer staff) to earn rewards based upon consumption. On May 9, 2016, we entered into a letter of intent to acquire a new, innovative text-message-based marketing product called Citizen Toke from Beta Killers, LLC. Citizen Toke leverages unique and proprietary consumer data to develop direct to consumer marketing campaigns for both regulated cannabis retailers and branded products companies. On August 10, 2016, we consummated that transaction through the signing of a definitive asset purchase agreement and other documentation. CannaLIMS is a laboratory management information system product focused solely on the cannabis marketplace. Cannabis laboratories have multiple state and local level regulatory reporting requirements. We license our CannaLIMS system to customers, who access the software through web browsers and mobile applications, for recurring license fees. We have currently launched this product into the market and have secured new recurring revenue clientele. As with other software products we license, we are continuously making product improvements that we provide to existing users and new customers and are actively marketing in the laboratory sector of the industry. On November 10, 2015, we acquired a 49% interest and a 10% gross revenue share in MHB, Inc., a Colorado corporation doing business as Mile High Brands ("MHB"). MHB is a licensing and distribution company doing business in the regulated cannabis industry. Under the share exchange agreement, we acquired 10,000,000 shares of MHB in exchange for 10,000,000 shares of our common stock. MHB contracts with celebrity brands and organizations and creates licensing opportunities for us through this relationship. On May 6, 2016, we announced the collaboration of O.penVAPE with Ziggy Marley to launch a branded line of vaporizer products in association with MHB. We currently have a number of product licensing and distribution opportunities in partnership with MHB and expect to expand that portfolio in the future. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 2 - Summary of Significant Accounting Policies | NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Unaudited Interim Financial Information The accompanying unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These financial statements should be read in conjunction with the audited financial statements and footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2015. The results of the six months ended June 30, 2016, are not necessarily indicative of the results to be expected for the full year ending December 31, 2016. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control, and preventing and detecting fraud. Our system of internal accounting control is designed to assure, among other items, that: (1) recorded transactions are valid; (2) valid transactions are recorded; and (3) transactions are recorded in the proper period in a timely manner to produce financial statements that present fairly our financial condition, results of operations, and cash flows for the respective periods being presented. Use of Estimates The preparation of financial statements in accordance with U.S. GAAP permits management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Revenue Recognition We follow Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 605-10-S99-1, Revenue Recognition, Recently Issued Accounting Pronouncements In September 2015, the FASB issued Accounting Standards Update ("ASU") No. 2015-16, Business Combinations (Topic 805). In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) Leases (FAS 13) We have reviewed all other recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on our results of operations, financial position, and cash flows. Based on that review, these pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and we do not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on our financial position or results of operations. |
Note 3 - Going Concern
Note 3 - Going Concern | 6 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 3 - Going Concern | NOTE 3 GOING CONCERN As reflected in the accompanying financial statements, we have an accumulated deficit of $7,466,226 at June 30, 2016, had a net loss of $1,849,540, and used cash in operating activities of $217,666. This raises substantial doubt about our ability to continue as a going concern. The financial statements have been prepared assuming that we will continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should we be unable to continue as a going concern. While we are attempting to increase operations and revenues, our cash position may not be significant enough to support our daily operations. Management intends to raise additional funds by way of debt and equity financing. Management believes that the actions presently being taken to further implement our business plan and generate increased revenues provide the opportunity for us to continue as a going concern. While we believe in the viability of our strategy to generate increased revenues and in our ability to raise additional funds, there can be no assurances to that effect. Our ability to continue as a going concern is dependent upon our ability to further implement our business plan and generate increased revenues. The financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern. |
Note 4 - Property and Equipment
Note 4 - Property and Equipment | 6 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 4 - Property and Equipment | NOTE 4 PROPERTY AND EQUIPMENT Furniture, fixtures, and equipment, stated at cost, less accumulated depreciation consisted of the following: June 30, 2016 December 31, 2015 Furniture, fixtures, and equipment $8,403 $8,403 Less: accumulated depreciation (4,637) (3,225) Fixed assets, net $3,766 $5,178 Depreciation Expense Depreciation expense for the six months ended June 30, 2016 and 2015, was $1,412 and $1,396, respectively. |
Note 5 - Software License
Note 5 - Software License | 6 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 5 - Software License | NOTE 5 SOFTWARE LICENSE Effective February 12, 2015, we entered into an exclusive licensing agreement with Loyl.Me LLC, an established provider of automated marketing and customer relationship management software. The licensing agreement allows us the opportunity for perpetual and exclusive rights and ability to provide the cannabis community a convenient, cost-effective, and streamlined technology that is widely used in the non-cannabis industry. The technology is being branded as "BumpUp Rewards." The term of the agreement is perpetual; therefore, no amortization is being recognized. However, the value of the license will undergo an annual impairment test as required by ASC 350, IntangiblesGoodwill and Other The agreement requires nine installment payments of $25,000 each to be paid with a combination of cash and stock and 8% of revenue from the use of the licensed technology . A As of , 2016, we have paid $255,000 in cash and stock towards the total cost of the license. |
Note 6 - Available For Sale Sec
Note 6 - Available For Sale Securities | 6 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 6 - Available For Sale Securities | NOTE 6 AVAILABLE-FOR-SALE SECURITIES On December 10, 2015, we acquired a 1.083% interest in Duby, LLC for $32,500. Duby is a social media application focused on cannabis consumers. As part of the acquisition, Duby plans to assist in the promotion of our products and services on its platform. We purchased the interest in Duby as part of ongoing negotiations for the joint marketing and promotion of our respective products. The purchase is being accounted for according to ASC 320, Debt and Equity Securities |
Note 7 - Investment in Mile Hig
Note 7 - Investment in Mile High Brands | 6 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 7 - Investment in Mile High Brands | NOTE 7 INVESTMENT IN MHB On November 10, 2015, we entered into an agreement to exchange 10 million shares of our common stock for 10 million shares of MHB, Inc., doing business as Mile High Brands ("MHB"). The shares were valued at $0.29 per share, the closing stock price on the date of grant, for a total of $2,900,000 . Debt and Equity Securities A MHB was unable to provide us with the financial statements for the six months ended June 30, 2016. The impact to our financial statements for the six months ended June 30, 2016 would be immaterial. The financials will be updated as necessary for the third quarter. |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 8 - Commitments and Contingencies | NOTE 8 COMMITMENTS AND CONTINGENCIES Operating Lease We currently sublease office space in Denver, Colorado. We signed a month-to-month lease starting January 1, 2016. Current lease payments are based on number of desks being occupied not to exceed $1,500 per month. The sublease required a deposit of $1,500, which was paid on January 25, 2016. |
Note 9 - Notes Payable in Defau
Note 9 - Notes Payable in Default | 6 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 9 - Notes Payable in Default | NOTE 9 NOTE PAYABLE On February 16, 2016, MHB advanced to us $7,500 to pay for certain operating expenses. The loan is unsecured, due on demand, and accrues interest at 10%. Effective March 24, 2016, we issued a promissory note for $33,717 with a former employee pursuant to the terms of the employment separation agreement. The note is unsecured, non-interest-bearing, and repayable according to a specific schedule by September 19, 2016. As of June 30, 2016, the balance on this note is $27,217. On April 27, 2016, we issued a promissory note for $27,000 with Jeff Holmes in conjunction with Mr. Holmes assignment of his note dated June 26, 2015, to Blackbridge Capital, LLC (Note 10). The note included a $25,000 cash payment and a $2,000 original issue discount. The note is unsecured, accrues interest at 1% per annum, and is due and payable on October 26, 2016. In connection with the execution of the promissory note, we also issued a warrant to purchase 100,000 shares of common stock (Note 12). |
Note 10 - Notes Payable in Defa
Note 10 - Notes Payable in Default | 6 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 10 - Notes Payable in Default | NOTE 10 NOTES PAYABLE IN DEFAULT During the year ended December 31, 2015, we issued four unsecured promissory notes to two accredited investors, B44, LLC and Jeff Holmes, for a total of $200,000 in a private placement of our securities. The notes accrue interest at 1% per annum and were due and payable on March 1, 2016. The notes were issued in reliance on the exemption from registration provided in Section 4(a)(2) of the Securities Act of 1933, as amended, for transactions not involving any public offering. On April 27, 2016, Jeff Holmes entered into a Note Purchase and Assignment Agreement whereby he assigned his full interest in one of the notes for $50,000 to Blackbridge Capital, LLC. On May 23, 2016, B44, LLC, entered into a Note Purchase and Assignment Agreement whereby it assigned its full interest in one of the notes for $50,000 to Kodiak Capital Group, LLC. On May 31, 2016 B44, LLC, entered into a Note Purchase and Assignment Agreement whereby it assigned its full interest in one of the notes for $50,000 to Black Forest Capital, LLC. As of June 30, 2016, one note for $50,000 remains in default. On January 13, 2016, we issued a promissory note for $75,000 with B44, LLC. The note is unsecured, accrues interest at 1% per annum, and is due and payable on June 30, 2016. In connection with the execution of the promissory note, we also issued a warrant to purchase 225,000 shares of common stock. This note is currently in default. |
Note 11 - Convertible Notes Pay
Note 11 - Convertible Notes Payable | 6 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 11 - Convertible Notes Payable | NOTE 11 CONVERTIBLE NOTES PAYABLE The following is a summary of outstanding convertible promissory notes as of December 31, 2015: Note Holder Issue Date Maturity Date Stated Interest Rate Principal Balance Outstanding 12/31/2015 EMA Financial, LLC 10/14/2015 10/14/2016 10% $30,800 Tangiers Investment Group, LLC 11/18/2015 11/19/2016 10% 60,000 Kodiak Capital Group, LLC 11/30/2015 12/01/2016 12% 50,000 Auctus Fund, LLC 12/03/2015 09/03/2016 10% 49,250 Adar Bays, LLC 12/10/2015 12/10/2016 8% 35,000 Kodiak Capital Group, LLC 12/15/2015 07/15/2016 0% 50,000 275,050 Less debt discount (122,084) $152,966 The following is a summary of outstanding convertible promissory notes as of June 30, 2016: Note Holder Issue Date Maturity Date Stated Interest Rate Principal Balance Outstanding 6/30/2016 EMA Financial, LLC 10/14/2015 10/14/2016 12% $13,736 (1) Tangiers Investment Group, LLC 11/18/2015 11/19/2016 10% 35,941 (2) Kodiak Capital Group, LLC 11/30/2015 12/01/2016 12% 50,000 Auctus Fund, LLC 12/03/2015 09/03/2016 10% 35,646 (3) Adar Bays, LLC 12/16/2015 12/16/2016 8% 30,585 (4) Kodiak Capital Group, LLC 12/15/2015 07/15/2016 0% 50,000 Colonial Stock Transfer 01/14/2016 01/14/2017 10% 6,605 Kodiak Capital Group, LLC 03/18/2016 03/18/2017 12% 50,000 Blackbridge Capital, LLC 04/27/2016 10/27/2016 1% 4,500 (5) EMA Financial, LLC 05/05/2016 05/05/2017 12% 53,500 Kodiak Capital Group, LLC 05/23/2016 08/30/2016 1% 50,000 Black Forest Capital, LLC 05/31/2016 05/31/2017 8% 30,000 Black Forest Capital, LLC 05/31/2016 05/31/2017 2% 14,420 (6) 424,933 Less debt discount (23,338) $401,595 (1) Converted $19,564 of principal to common stock. (2) Converted $24,059 of principal to common stock. (3) Converted $13,604 of principal to common stock. (4) Converted $4,415 of principal to common stock. (5) Converted $45,500 of principal to common stock. (6) Converted $35,580 of principal to common stock. Accrued interest on the above notes was $12,378 and $6,210 as of June 30, 2016, and December 31, 2015, respectively. Debt discount expense including original issue discounts for the three and six months ended June 30, 2016, was $323,349 and $415,849, respectively. Carrying value of all convertible notes, net of debt discounts, as of June 30, 2016, and December 31, 2015, is $401,595 and $152,966, respectively. Based on the fair value of the embedded conversion options on the day of issuance, a loss of $478,239 and $489,011 for the three and six months ended June 30, 2016, was recorded in the statement of operations. |
Note 12 - Stock Warrants
Note 12 - Stock Warrants | 6 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 12 - Stock Warrants | NOTE 12 STOCK WARRANTS The warrants issued by us are classified as equity. The fair value of the warrants calculated at the time of vesting was recorded as an increase to additional paid-in-capital. On December 20, 2015, pursuant to the terms of a consulting agreement with National Concessions Group, Inc., we granted a warrant to purchase 300,000 shares of common stock. The warrant vests incrementally over six quarters. As of December 31, 2015, the warrant had vested for 50,000 shares, with an aggregate fair value of $16,000. As of June 30, 2016, the warrant vested for another 100,000 shares, with an aggregate fair value of $32,000. Aggregate fair value is based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $0.05, stock price of $0.32, 0.8% risk free rate, 848.1% volatility, and expected life of the warrant of 1.4 years. On December 24, 2015, we granted to Michael Tew, our chief executive officer, a warrant to purchase 3,000,000 shares of common stock. As of December 31, 2015, the warrant had vested for 1,750,000 shares, with an aggregate fair value of $612,500. As of June 30, 2016, the warrant vested for another 500,000 shares, with an aggregate fair value of $175,000. The aggregate fair value is based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $0.05, stock price of $0.35, 1.33% risk free rate, 842% volatility, and expected life of the warrant of three years. On December 24, 2015, we granted to Brandon Jennewine, our director, a warrant to purchase 500,000 shares of common stock. The warrant vested immediately upon grant. The aggregate fair value of the vested warrant totaled $175,000 based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $0.05, stock price of $0.35, 1.33% risk free rate, 842% volatility, and expected life of the warrant of three years. On December 24, 2015, we granted to Daniel J. Rogers, our director, a warrant to purchase 250,000 shares of common stock. The warrant vested immediately upon grant. The aggregate fair value of the vested warrant totaled $87,500 based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $0.05, stock price of $0.35, 1.33% risk free rate, 842% volatility, and expected life of the warrant of three years. On December 24, 2015, we granted to David Wollins, a former director, a warrant to purchase 150,000 shares of common stock. As of December 31, 2015, the warrant had vested for 37,500 shares. The aggregate fair value of the vested warrant totaled $13,125 based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $0.05, stock price of $0.35, 1.33% risk free rate, 842% volatility, and expected life of the warrant of three years. On March 22, 2016, we accepted the resignation of Mr. Wollins resulting in the cancellation of the warrant for the remaining 112,500 shares. On January 13, 2016, pursuant to the terms of a promissory note with B44, LLC, we granted a warrant to purchase 225,000 shares of common stock. The warrant vested immediately upon grant. The aggregate fair value of the vested warrant totaled $69,750 based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $0.05, stock price of $0.31, 1.15% risk free rate, 600% volatility, and expected life of the warrant of three years. On February 10, 2016, B44 exercised its right to a cashless conversion of its warrant, for which it received 176,087 shares of common stock. On January 24, 2016, pursuant to the terms of a consulting agreement, we granted a warrant to purchase 100,000 shares of common stock to Consigliere Inc. The warrant is fully vested with an exercise price of $0.23 per share and expires January 23, 2017. The aggregate fair value of the vested warrant totaled $28,967 based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $0.23, stock price of $0.29, 0.47% risk free rate, 638% volatility, and expected life of the warrant of one year. On January 21, 2016, we granted to KiwiTech, LLC, a warrant to purchase 312,500 shares of common stock. The warrant vested immediately upon grant. The aggregate fair value of the vested warrant totaled $71,875 based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $0.40, stock price of $0.23, 2.02% risk free rate, 600% volatility, and expected life of the warrant of 10 years. On April 28, 2016, pursuant to the terms of a promissory note with Jeff Holmes, we granted a warrant to purchase 100,000 shares of common stock. The warrant vested immediately upon grant. The aggregate fair value of the vested warrant totaled $27,000 based on the Black-Scholes-Merton pricing model using the following estimates: exercise price of $0.05, stock price of $0.27, 0.91% risk free rate, 1,177% volatility, and expected life of the warrant of 2.68 years. Shares Available to Purchase with Warrants Weighted Average Price Weighted Average Fair Value Outstanding, December 31, 2014 4,200,000 $0.05 $0.35 Issued 737,500 0.28 0.27 Exercised (225,000) - - Cancelled (112,500) - - Expired - - - Outstanding, June 30, 2016 4,600,000 $0.08 $0.34 Exercisable, June 30, 2015 3,700,000 $0.09 $0.33 Range of Exercise Prices Number Outstanding 6/30/2016 Weighted Average Remaining Contractual Life Weighted Average Exercise Price $0.05 - $0.40 4,600,000 2.8 years $0.09 |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity (deficit) | 6 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 13 - Stockholders' Equity (deficit) | NOTE 13 STOCKHOLDERS' EQUITY (DEFICIT) On February 9, 2015, we authorized the issuance of 25,000 shares of common stock per the terms of the licensing agreement with Loyl.Me. The shares were valued at $2.00 per share, the closing stock price on the date of grant, for total noncash stock compensation expense of $50,000. On April 10, 2015, we authorized the issuance of 5,612 shares of common stock per the terms of the licensing agreement with Loyl.Me. The shares were valued at $1.47 per share, the closing stock price on the date of grant, for total noncash stock compensation expense of $8,250. On July 10, 2015, we authorized the issuance of 24,038 shares of common stock per the terms of the licensing agreement with Loyl.Me. The shares were valued at $1.04 per share, the closing stock price on the date of grant, for total noncash stock compensation expense of $25,000. On October 10, 2015, we authorized the issuance of 77,640 shares of common stock per the terms of the licensing agreement with Loyl.Me. The shares were valued at $0.322 per share, the closing stock price on the date of grant, for total noncash stock compensation expense of $25,000. On November 10, 2015, we entered into an agreement to exchange 10 million shares of our common stock for 10 million shares of MHB, Inc. Through this transaction, we acquired 49% of the issued and outstanding common shares of MHB, Inc. The shares were valued at $0.29 per share, the closing stock price on the date of grant, for a total of $2,900,000 . On January 14, 2016, we granted 50,000 shares of common stock to Convurge, LLC, the successor-in-interest to Loyl.Me LLC, in connection with an amendment to the license agreement. The shares were valued at $0.28 per share, the closing stock price on the date of grant, for a total noncash expense of $14,000 . On February 8, 2016, we granted 25,000 shares of common stock in consideration for accounting services rendered. The shares were valued at $0.25 per share, the closing stock price on the date of grant, for a total noncash expense of $6,250 . On February 11, 2016, we granted 62,500 shares of common stock in consideration for consulting services rendered. The shares were valued at $0.25 per share, the closing stock price on the date of grant, for a total noncash expense of $15,625 . On March 31, 2016, we, LuvBuds, LLC, Brett Harris, and Tag Distributing LLC, doing business as Consigliere Inc., entered into an Agreement of Termination, Compromise, Settlement and Mutual Release of Claims to resolve, compromise, settle, and dispose of and any and all disputes and claims that exist or may exist among the parties. Pursuant to the terms of the agreement, Mr. Harris retained the stock grant for 300,000 shares of common stock. The shares were valued at $0.22 per share, the closing stock price on the date of grant, for a total noncash expense of $66,000 . On May 23, 2016, we entered into Amendment No. 1 to 10% Convertible Promissory Note of CannaSys to amend the terms of the 10% Convertible Promissory Note of CannaSys, Inc. dated November 18, 2015 with Tangiers Investment Group, LLC. In consideration of Tangiers Investment Group's agreement not to submit a notice of conversion prior to June 10, 2016, we issued a stock grant of 100,000 restricted shares of common stock to Tangiers Investment Group. The shares were valued at $0.06 per share, the closing stock price on the date of grant, for a total noncash expense of $6,000 . The following table reflects the amounts of principal converted, and the corresponding number of shares issued, in connection with outstanding convertible promissory notes during the quarter ended June 30, 2016: Amount Converted Date Note Holder Price Shares Issued Principal Interest 4/29/2016 Blackbridge Capital $0.069 333,333 $25,000.00 $- 5/3/2016 EMA Financial LLC 0.075 70,000 5,250.00 - 5/19/2016 Blackbridge Capital, LLC 0.001 121,212 (1) - 5/27/2016 Blackbridge Capital, LLC 0.001 2,045,455 (1) - 5/27/2016 EMA Financial LLC 0.006 1,000,000 5,500.00 - 6/3/2016 Black Forest Capital. LLC 0.010 1,000,000 10,000.00 - 6/6/2016 Auctus Fund, LLLC 0.011 1,094,051 9,592.30 2,442.26 6/8/2016 Blackbridge Capital, LLC 0.004 2,000,000 10,000.00 - 6/8/2016 EMA Financial LLC 0.003 1,272,600 3,744.63 - 6/9/2016 EMA Financial LLC 0.002 1,486,592 2,861.69 - 6/9/2016 Tangiers Investment Group, LLC 0.004 2,701,299 10,400.00 - 6/10/2016 Auctus Fund 0.004 1,067,391 4,011.67 97.79 6/10/2016 Black Forest Capital. LLC 0.003 1,428,572 5,000.00 - 6/10/2016 Blackbridge Capital, LLC 0.003 2,857,143 10,000.00 - 6/13/2016 EMA Financial LLC 0.001 2,006,610 2,207.27 - 6/14/2016 Blackbridge Capital, LLC 0.001 1,636,364 (2) - 6/14/2016 Tangiers Investment Group, LLC 0.003 3,685,950 11,150.00 - 6/15/2016 Black Forest Capital. LLC 0.003 1,818,182 5,000.00 - 6/16/2016 Tangiers Investment Group, LLC 0.002 1,112,639 2,509.00 - 6/17/2016 Black Forest Capital. LLC 0.002 2,450,000 5,022.50 - 6/17/2016 Blackbridge Capital, LLC 0.001 2,020,906 (3) - 6/20/2016 Adar Bays LLC 0.002 2,153,846 4,415.39 - 6/20/2016 Blackbridge Capital, LLC 0.001 1,241,685 (2) - 6/21/2016 Black Forest Capital. LLC 0.002 2,450,000 5,022.50 - 6/22/2016 Black Forest Capital. LLC 0.002 2,700,000 5,535.00 - 6/27/2016 Blackbridge Capital, LLC 0.002 243,902 500.00 - 41,997,732 $142,721.95 $2,540 (1) Additional shares issued for the April 29, 2016, conversion. (2) Additional shares issued for the June 8, 2016, conversion. (3) Additional shares issued for the June 10, 2016, conversion. |
Note 14 - Subsequent Events
Note 14 - Subsequent Events | 6 Months Ended |
Jun. 30, 2016 | |
Notes | |
Note 14 - Subsequent Events | NOTE 14 SUBSEQUENT EVENTS In accordance with ASC 855-10, Subsequent Events On July 8, 2016, Adar Bays, LLC converted $3,705 of principal due to it into 1,500,000 shares of common stock. On July 15, 2016, Kodiak Capital Group LLC converted $3,717 of principal due to it into 3,163,353 shares of common stock. On July 12, 2016, we entered into the First Amendment to 8% Convertible Redeemable Notes to amend the terms of the 8% Convertible Redeemable Notes dated December 16, 2015 (each in the amount of $35,000), with Adar Bays, LLC. The first note was funded on December 10, 2015. In consideration of Adar Bay's agreement to fund the second note, we agreed to fix the conversion price for both notes at $0.00205 per share. Adar Bays funded $20,000 of second note on July 12, 2016 (less $1,142 for fees), and agreed to fund the balance of the second note when we filed a preliminary information statement. On July 20, 2016, we entered into a Securities Purchase Agreement with Auctus Fund, LLC and issued a Convertible Promissory Note payable to Auctus, in the principal amount of $45,750, against payment of that amount less $5,750 as reimbursement of lender's transaction costs. The note is unsecured, accrues interest at 10% per annum, and is due and payable on April 20, 2017. On July 27, 2016, we entered into a Share Exchange Agreement with F-Squared Enterprises, LLC, to exchange its 1,515,000 shares of our common stock for 1,515,000 shares of our Series A Preferred Stock. On July 29, 2016, we filed an Amendment to the Articles of Incorporation Designating Rights, Privileges, and Preferences of Series A Preferred Stock with the Nevada Secretary of State respecting 1,515,000 shares of Series A Preferred Stock. The Series A Preferred Stock ranks equal to our common stock respecting the payment of dividends and distribution of assets upon liquidation, dissolution, or winding up. |
Note 2 - Summary of Significa20
Note 2 - Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2016 | |
Policies | |
Basis of Unaudited Interim Financial Information | Basis of Unaudited Interim Financial Information The accompanying unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These financial statements should be read in conjunction with the audited financial statements and footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2015. The results of the six months ended June 30, 2016, are not necessarily indicative of the results to be expected for the full year ending December 31, 2016. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control, and preventing and detecting fraud. Our system of internal accounting control is designed to assure, among other items, that: (1) recorded transactions are valid; (2) valid transactions are recorded; and (3) transactions are recorded in the proper period in a timely manner to produce financial statements that present fairly our financial condition, results of operations, and cash flows for the respective periods being presented. |
Use of Estimates | Use of Estimates The preparation of financial statements in accordance with U.S. GAAP permits management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Revenue Recognition | Revenue Recognition We follow Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 605-10-S99-1, Revenue Recognition, |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In September 2015, the FASB issued Accounting Standards Update ("ASU") No. 2015-16, Business Combinations (Topic 805). In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) Leases (FAS 13) We have reviewed all other recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on our results of operations, financial position, and cash flows. Based on that review, these pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and we do not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on our financial position or results of operations. |
Note 4 - Property and Equipme21
Note 4 - Property and Equipment: Schedule of Property and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Tables/Schedules | |
Schedule of Property and Equipment | Furniture, fixtures, and equipment, stated at cost, less accumulated depreciation consisted of the following: June 30, 2016 December 31, 2015 Furniture, fixtures, and equipment $8,403 $8,403 Less: accumulated depreciation (4,637) (3,225) Fixed assets, net $3,766 $5,178 |
Note 11 - Convertible Notes P22
Note 11 - Convertible Notes Payable: Schedule of Short Term Debt and Maturities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Tables/Schedules | |
Schedule of Short Term Debt and Maturities | The following is a summary of outstanding convertible promissory notes as of December 31, 2015: Note Holder Issue Date Maturity Date Stated Interest Rate Principal Balance Outstanding 12/31/2015 EMA Financial, LLC 10/14/2015 10/14/2016 10% $30,800 Tangiers Investment Group, LLC 11/18/2015 11/19/2016 10% 60,000 Kodiak Capital Group, LLC 11/30/2015 12/01/2016 12% 50,000 Auctus Fund, LLC 12/03/2015 09/03/2016 10% 49,250 Adar Bays, LLC 12/10/2015 12/10/2016 8% 35,000 Kodiak Capital Group, LLC 12/15/2015 07/15/2016 0% 50,000 275,050 Less debt discount (122,084) $152,966 The following is a summary of outstanding convertible promissory notes as of June 30, 2016: Note Holder Issue Date Maturity Date Stated Interest Rate Principal Balance Outstanding 6/30/2016 EMA Financial, LLC 10/14/2015 10/14/2016 12% $13,736 (1) Tangiers Investment Group, LLC 11/18/2015 11/19/2016 10% 35,941 (2) Kodiak Capital Group, LLC 11/30/2015 12/01/2016 12% 50,000 Auctus Fund, LLC 12/03/2015 09/03/2016 10% 35,646 (3) Adar Bays, LLC 12/16/2015 12/16/2016 8% 30,585 (4) Kodiak Capital Group, LLC 12/15/2015 07/15/2016 0% 50,000 Colonial Stock Transfer 01/14/2016 01/14/2017 10% 6,605 Kodiak Capital Group, LLC 03/18/2016 03/18/2017 12% 50,000 Blackbridge Capital, LLC 04/27/2016 10/27/2016 1% 4,500 (5) EMA Financial, LLC 05/05/2016 05/05/2017 12% 53,500 Kodiak Capital Group, LLC 05/23/2016 08/30/2016 1% 50,000 Black Forest Capital, LLC 05/31/2016 05/31/2017 8% 30,000 Black Forest Capital, LLC 05/31/2016 05/31/2017 2% 14,420 (6) 424,933 Less debt discount (23,338) $401,595 (1) Converted $19,564 of principal to common stock. (2) Converted $24,059 of principal to common stock. (3) Converted $13,604 of principal to common stock. (4) Converted $4,415 of principal to common stock. (5) Converted $45,500 of principal to common stock. (6) Converted $35,580 of principal to common stock. |
Note 12 - Stock Warrants_ Sched
Note 12 - Stock Warrants: Schedule of Warrants, Activity (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Tables/Schedules | |
Schedule of Warrants, Activity | Shares Available to Purchase with Warrants Weighted Average Price Weighted Average Fair Value Outstanding, December 31, 2014 4,200,000 $0.05 $0.35 Issued 737,500 0.28 0.27 Exercised (225,000) - - Cancelled (112,500) - - Expired - - - Outstanding, June 30, 2016 4,600,000 $0.08 $0.34 Exercisable, June 30, 2015 3,700,000 $0.09 $0.33 Range of Exercise Prices Number Outstanding 6/30/2016 Weighted Average Remaining Contractual Life Weighted Average Exercise Price $0.05 - $0.40 4,600,000 2.8 years $0.09 |
Note 13 - Stockholders' Equit24
Note 13 - Stockholders' Equity (deficit): Schedule of Debt Conversions (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Tables/Schedules | |
Schedule of Debt Conversions | Amount Converted Date Note Holder Price Shares Issued Principal Interest 4/29/2016 Blackbridge Capital $0.069 333,333 $25,000.00 $- 5/3/2016 EMA Financial LLC 0.075 70,000 5,250.00 - 5/19/2016 Blackbridge Capital, LLC 0.001 121,212 (1) - 5/27/2016 Blackbridge Capital, LLC 0.001 2,045,455 (1) - 5/27/2016 EMA Financial LLC 0.006 1,000,000 5,500.00 - 6/3/2016 Black Forest Capital. LLC 0.010 1,000,000 10,000.00 - 6/6/2016 Auctus Fund, LLLC 0.011 1,094,051 9,592.30 2,442.26 6/8/2016 Blackbridge Capital, LLC 0.004 2,000,000 10,000.00 - 6/8/2016 EMA Financial LLC 0.003 1,272,600 3,744.63 - 6/9/2016 EMA Financial LLC 0.002 1,486,592 2,861.69 - 6/9/2016 Tangiers Investment Group, LLC 0.004 2,701,299 10,400.00 - 6/10/2016 Auctus Fund 0.004 1,067,391 4,011.67 97.79 6/10/2016 Black Forest Capital. LLC 0.003 1,428,572 5,000.00 - 6/10/2016 Blackbridge Capital, LLC 0.003 2,857,143 10,000.00 - 6/13/2016 EMA Financial LLC 0.001 2,006,610 2,207.27 - 6/14/2016 Blackbridge Capital, LLC 0.001 1,636,364 (2) - 6/14/2016 Tangiers Investment Group, LLC 0.003 3,685,950 11,150.00 - 6/15/2016 Black Forest Capital. LLC 0.003 1,818,182 5,000.00 - 6/16/2016 Tangiers Investment Group, LLC 0.002 1,112,639 2,509.00 - 6/17/2016 Black Forest Capital. LLC 0.002 2,450,000 5,022.50 - 6/17/2016 Blackbridge Capital, LLC 0.001 2,020,906 (3) - 6/20/2016 Adar Bays LLC 0.002 2,153,846 4,415.39 - 6/20/2016 Blackbridge Capital, LLC 0.001 1,241,685 (2) - 6/21/2016 Black Forest Capital. LLC 0.002 2,450,000 5,022.50 - 6/22/2016 Black Forest Capital. LLC 0.002 2,700,000 5,535.00 - 6/27/2016 Blackbridge Capital, LLC 0.002 243,902 500.00 - 41,997,732 $142,721.95 $2,540 (1) Additional shares issued for the April 29, 2016, conversion. (2) Additional shares issued for the June 8, 2016, conversion. (3) Additional shares issued for the June 10, 2016, conversion. |
Note 1 - Organization and Des25
Note 1 - Organization and Description of Business (Details) - shares | Nov. 10, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | Nov. 15, 2015 | Nov. 11, 2015 | Nov. 12, 2014 |
Entity Incorporation, Date of Incorporation | Aug. 25, 1999 | |||||
Authorized Capital Stock | 80,000,000 | |||||
Common Stock, shares authorized | 75,000,000 | 75,000,000 | 75,000,000 | |||
Preferred Stock, shares authorized | 5,000,000 | 5,000,000 | 5,000,000 | |||
Mile High Brands | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 49.00% | 49.00% | ||||
Gross Revenue Share | 10.00% | |||||
Shares purchased | 10,000,000 | 10,000,000 | ||||
Mile High Brands | Common Stock | ||||||
Shares Issued | 10,000,000 | 10,000,000 |
Note 3 - Going Concern (Details
Note 3 - Going Concern (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Details | |||||
Accumulated deficit | $ (7,466,226) | $ (7,466,226) | $ (5,616,686) | ||
Net loss | $ (1,145,293) | $ (171,323) | (1,849,540) | $ (413,673) | |
Net cash used in operating activities | $ (217,666) | $ (514,410) |
Note 4 - Property and Equipme27
Note 4 - Property and Equipment: Schedule of Property and Equipment (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Details | ||
Furniture, fixtures, and equipment | $ 8,403 | $ 8,403 |
Less: accumulated depreciation | (4,637) | (3,225) |
Fixed assets, net | $ 3,766 | $ 5,178 |
Note 4 - Property and Equipme28
Note 4 - Property and Equipment (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Details | ||
Depreciation Expense | $ 1,412 | $ 1,396 |
Note 5 - Software License (Deta
Note 5 - Software License (Details) - Loyl.Me | 6 Months Ended |
Jun. 30, 2016USD ($) | |
License agreement payment terms | The agreement requires nine installment payments of $25,000 each to be paid with a combination of cash and stock and 8% of revenue from the use of the licensed technology |
Common Stock | |
Payments for Software | $ 255,000 |
Note 6 - Available For Sale S30
Note 6 - Available For Sale Securities (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | |
Available for sale securities | $ 32,500 | $ 32,500 |
Duby, LLC | ||
Acquisition Date | Dec. 10, 2015 | |
Business Acquisition, Percentage of Voting Interests Acquired | 1.08% | |
Available for sale securities | $ 32,500 |
Note 7 - Investment in Mile H31
Note 7 - Investment in Mile High Brands (Details) - Mile High Brands - USD ($) | Nov. 10, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | Nov. 15, 2015 | Nov. 11, 2015 |
Shares purchased | 10,000,000 | 10,000,000 | |||
Stock price | $ 0.29 | $ 0.29 | |||
Value of Original Investment | $ 2,900,000 | $ 2,900,000 | |||
Business Acquisition, Percentage of Voting Interests Acquired | 49.00% | 49.00% | |||
Investment at fair value | $ 1,049,475 | ||||
Impairment loss on investment | $ 1,846,515 | ||||
Common Stock | |||||
Shares Issued | 10,000,000 | 10,000,000 |
Note 8 - Commitments and Cont32
Note 8 - Commitments and Contingencies (Details) - Office Space | 6 Months Ended |
Jun. 30, 2016USD ($) | |
Periodic Payment Amount | $ 1,500 |
Deposit Assets | $ 1,500 |
Note 9 - Notes Payable in Def33
Note 9 - Notes Payable in Default (Details) - USD ($) | 6 Months Ended | |||||
Jun. 30, 2016 | Apr. 28, 2016 | Apr. 27, 2016 | Mar. 24, 2016 | Feb. 16, 2016 | Dec. 31, 2015 | |
Convertible notes payable, discount | $ 23,338 | $ 122,084 | ||||
Mile High Brands | ||||||
Debt Instrument, Face Amount | $ 7,500 | |||||
Stated Interest Rate | 10.00% | |||||
Former Employee | ||||||
Debt Instrument, Face Amount | $ 33,717 | |||||
Long-term Debt, Gross | 27,217 | |||||
Jeff Holmes | ||||||
Debt Instrument, Face Amount | $ 27,000 | |||||
Stated Interest Rate | 1.00% | |||||
Proceeds from Notes Payable | $ 25,000 | |||||
Convertible notes payable, discount | $ 2,000 | |||||
Maturity Date | Oct. 26, 2016 | |||||
Class of Warrant, Outstanding | 100,000 | 100,000 |
Note 10 - Notes Payable in De34
Note 10 - Notes Payable in Default (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Jan. 13, 2016 | |
Blackbridge Capital LLC | ||
Stated Interest Rate | 1.00% | |
Maturity Date | Oct. 27, 2016 | |
B44 | ||
Stated Interest Rate | 1.00% | |
Maturity Date | Jun. 30, 2016 | |
Debt Instrument, Face Amount | $ 75,000 | |
Class of Warrant, Outstanding | 225,000 | |
Note Purchase and Assignment Agreement | Blackbridge Capital LLC | ||
Debt Conversion, Converted Instrument, Amount | $ 50,000 | |
Note Purchase and Assignment Agreement | Kodiak Capital | ||
Debt Conversion, Converted Instrument, Amount | 50,000 | |
Note Purchase and Assignment Agreement | Black Forest Capital LLC | ||
Debt Conversion, Converted Instrument, Amount | 50,000 | |
Note Purchase and Assignment Agreement | B44 | ||
Debt Default, Short-term Debt, Amount | 50,000 | |
Notes Payable in Default | ||
Debt Default, Short-term Debt, Amount | $ 200,000 | |
Stated Interest Rate | 1.00% | |
Maturity Date | Mar. 1, 2016 |
Note 11 - Convertible Notes P35
Note 11 - Convertible Notes Payable: Schedule of Short Term Debt and Maturities (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Convertible Notes Payable Gross | $ 424,933 | $ 275,050 |
Less debt discount | (23,338) | (122,084) |
Convertible notes payable | $ 401,595 | $ 152,966 |
EMA Financial, LLC | 10/14/2015 Note | ||
Issue Date | Oct. 14, 2015 | Oct. 14, 2015 |
Maturity Date | Oct. 14, 2016 | Oct. 14, 2016 |
Stated Interest Rate | 12.00% | 10.00% |
Principal Balance Outstanding | $ 13,736 | $ 30,800 |
Amount Converted | $ 19,564 | |
EMA Financial, LLC | 5/5/2016 Note | ||
Issue Date | May 5, 2016 | |
Maturity Date | May 5, 2017 | |
Stated Interest Rate | 12.00% | |
Principal Balance Outstanding | $ 53,500 | |
Tangiers Investment Group, LLC | ||
Issue Date | Nov. 18, 2015 | Nov. 18, 2015 |
Maturity Date | Nov. 19, 2016 | Nov. 19, 2016 |
Stated Interest Rate | 10.00% | 10.00% |
Principal Balance Outstanding | $ 35,941 | $ 60,000 |
Amount Converted | $ 24,059 | |
Kodiak Capital | 11/30/2015 Note | ||
Issue Date | Nov. 30, 2015 | Nov. 30, 2015 |
Maturity Date | Dec. 1, 2016 | Dec. 1, 2016 |
Stated Interest Rate | 12.00% | 12.00% |
Principal Balance Outstanding | $ 50,000 | $ 50,000 |
Kodiak Capital | 12/15/2015 Note | ||
Issue Date | Dec. 15, 2015 | Dec. 15, 2015 |
Maturity Date | Jul. 15, 2016 | Jul. 15, 2016 |
Stated Interest Rate | 0.00% | 0.00% |
Principal Balance Outstanding | $ 50,000 | $ 50,000 |
Kodiak Capital | 3/18/2016 Note | ||
Issue Date | Mar. 18, 2016 | |
Maturity Date | Mar. 18, 2017 | |
Stated Interest Rate | 12.00% | |
Principal Balance Outstanding | $ 50,000 | |
Kodiak Capital | 5/23/2016 Note | ||
Issue Date | May 23, 2016 | |
Maturity Date | Aug. 30, 2016 | |
Stated Interest Rate | 1.00% | |
Principal Balance Outstanding | $ 50,000 | |
Auctus Fund, LLC | ||
Issue Date | Dec. 3, 2015 | Dec. 3, 2015 |
Maturity Date | Sep. 3, 2016 | Sep. 3, 2016 |
Stated Interest Rate | 10.00% | 10.00% |
Principal Balance Outstanding | $ 35,646 | $ 49,250 |
Amount Converted | $ 13,604 | |
Adar Bays, LLC | ||
Issue Date | Dec. 16, 2015 | Dec. 10, 2015 |
Maturity Date | Dec. 16, 2016 | Dec. 10, 2016 |
Stated Interest Rate | 8.00% | 8.00% |
Principal Balance Outstanding | $ 30,585 | $ 35,000 |
Amount Converted | $ 4,415 | |
Colonial Stock Transfer | ||
Issue Date | Jan. 14, 2016 | |
Maturity Date | Jan. 14, 2017 | |
Stated Interest Rate | 10.00% | |
Principal Balance Outstanding | $ 6,605 | |
Blackbridge Capital LLC | ||
Issue Date | Apr. 27, 2016 | |
Maturity Date | Oct. 27, 2016 | |
Stated Interest Rate | 1.00% | |
Principal Balance Outstanding | $ 4,500 | |
Amount Converted | $ 45,500 | |
Black Forest Capital LLC | 5/31/2016 Note 1 | ||
Issue Date | May 31, 2016 | |
Maturity Date | May 31, 2017 | |
Stated Interest Rate | 8.00% | |
Principal Balance Outstanding | $ 30,000 | |
Black Forest Capital LLC | 5/31/2016 Note 2 | ||
Issue Date | May 31, 2016 | |
Maturity Date | May 31, 2017 | |
Stated Interest Rate | 2.00% | |
Principal Balance Outstanding | $ 14,420 | |
Amount Converted | $ 35,580 |
Note 11 - Convertible Notes P36
Note 11 - Convertible Notes Payable (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | |
Details | |||
Interest Payable, Current | $ 12,378 | $ 12,378 | $ 6,210 |
Amortization of debt discount | 323,349 | 415,849 | |
Loss on issuance of convertible debt | $ (478,239) | $ (489,011) |
Note 12 - Stock Warrants (Detai
Note 12 - Stock Warrants (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||||||
Dec. 31, 2015 | Jun. 30, 2016 | Apr. 28, 2016 | Apr. 27, 2016 | Jan. 24, 2016 | Jan. 21, 2016 | Jan. 13, 2016 | Dec. 24, 2015 | Dec. 20, 2015 | |
Chief Executive Officer | |||||||||
Class of Warrant, Outstanding | 3,000,000 | ||||||||
Risk free rate | 1.33% | ||||||||
Director 1 | |||||||||
Class of Warrant, Outstanding | 500,000 | ||||||||
Director 2 | |||||||||
Class of Warrant, Outstanding | 250,000 | ||||||||
Director 3 | |||||||||
Class of Warrant, Outstanding | 150,000 | ||||||||
Warrant | |||||||||
Cancelled | 112,500 | ||||||||
Warrant | Chief Executive Officer | |||||||||
Warrants vested | 1,750,000 | 500,000 | |||||||
Fair value vested | $ 612,500 | $ 175,000 | |||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 0.05 | ||||||||
Stock price | $ 0.35 | ||||||||
Volatility rate | 842.00% | ||||||||
Expected life | 3 years | ||||||||
Warrant | Director 1 | |||||||||
Fair value vested | $ 175,000 | ||||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 0.05 | ||||||||
Stock price | $ 0.35 | ||||||||
Risk free rate | 1.33% | ||||||||
Volatility rate | 842.00% | ||||||||
Expected life | 3 years | ||||||||
Warrant | Director 2 | |||||||||
Fair value vested | $ 87,500 | ||||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 0.05 | ||||||||
Stock price | $ 0.35 | ||||||||
Risk free rate | 1.33% | ||||||||
Volatility rate | 842.00% | ||||||||
Expected life | 3 years | ||||||||
Warrant | Director 3 | |||||||||
Warrants vested | 37,500 | ||||||||
Fair value vested | $ 13,125 | ||||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 0.05 | ||||||||
Stock price | $ 0.35 | ||||||||
Risk free rate | 1.33% | ||||||||
Volatility rate | 842.00% | ||||||||
Expected life | 3 years | ||||||||
Cancelled | 112,500 | ||||||||
National Concessions Group, Inc | |||||||||
Class of Warrant, Outstanding | 300,000 | ||||||||
National Concessions Group, Inc | Warrant | |||||||||
Warrants vested | 50,000 | 100,000 | |||||||
Fair value vested | $ 16,000 | $ 32,000 | |||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 0.05 | ||||||||
Stock price | $ 0.32 | ||||||||
Risk free rate | 0.80% | ||||||||
Volatility rate | 848.10% | ||||||||
Expected life | 1 year 4 months 24 days | ||||||||
B44 | |||||||||
Class of Warrant, Outstanding | 225,000 | ||||||||
B44 | Warrant | |||||||||
Fair value vested | $ 69,750 | ||||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 0.05 | ||||||||
Stock price | $ 0.31 | ||||||||
Risk free rate | 1.15% | ||||||||
Volatility rate | 600.00% | ||||||||
Expected life | 3 years | ||||||||
B44 | Common Stock | |||||||||
Stock Issued During Period, Shares, New Issues | 176,087 | ||||||||
Consigliere Inc | |||||||||
Class of Warrant, Outstanding | 100,000 | ||||||||
Consigliere Inc | Warrant | |||||||||
Fair value vested | $ 28,967 | ||||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 0.23 | ||||||||
Stock price | $ 0.29 | ||||||||
Risk free rate | 0.47% | ||||||||
Volatility rate | 638.00% | ||||||||
Expected life | 1 year | ||||||||
KiwiTech, LLC | |||||||||
Class of Warrant, Outstanding | 312,500 | ||||||||
KiwiTech, LLC | Warrant | |||||||||
Fair value vested | $ 71,875 | ||||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 0.40 | ||||||||
Stock price | $ 0.23 | ||||||||
Risk free rate | 2.02% | ||||||||
Volatility rate | 600.00% | ||||||||
Expected life | 10 years | ||||||||
Jeff Holmes | |||||||||
Class of Warrant, Outstanding | 100,000 | 100,000 | |||||||
Jeff Holmes | Warrant | |||||||||
Fair value vested | $ 27,000 | ||||||||
Fair Value Assumptions, Method Used | Black-Scholes-Merton pricing model | ||||||||
Exercise price | $ 0.05 | ||||||||
Stock price | $ 0.27 | ||||||||
Risk free rate | 0.91% | ||||||||
Volatility rate | 1177.00% | ||||||||
Expected life | 2 years 8 months 5 days |
Note 12 - Stock Warrants_ Sch38
Note 12 - Stock Warrants: Schedule of Warrants, Activity (Details) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016$ / sharesshares | Dec. 31, 2014$ / shares | |
Expired, Weighted Average Fair value | $ 0 | |
Warrant | ||
Warrants, Outstanding, Beginning Balance | shares | 4,200,000 | |
Outstanding, Weighted Average Exercise Price, Starting Balance | $ 0.05 | |
Outstanding, Weighted Average Fair Value | $ 0.34 | $ 0.35 |
Issued | shares | 737,500 | |
Issued, Weighted Average Exercise Price | $ 0.28 | |
Issued, Weighted Average Fair value | $ 0.27 | |
Exercised | shares | (225,000) | |
Exercised, Weighted Average Exercise Price | $ 0 | |
Exercised, Weighted Average Fair value | $ 0 | |
Cancelled | shares | (112,500) | |
Cancelled, Weighted Average Exercise Price | $ 0 | |
Cancelled, Weighted Average Fair value | $ 0 | |
Expired | shares | 0 | |
Expired, Weighted Average Exercise Price | $ 0 | |
Warrants, Outstanding, Ending Balance | shares | 4,600,000 | |
Outstanding, Weighted Average Exercise Price, Ending Balance | $ 0.08 | |
Exercisable | 3,700,000 | |
Exercisable, Weighted Average Exercise Price | $ 0.09 | |
Exercisable, Weighted Average Fair Value | 0.33 | |
Exercise Price Range, Lower Range Limit | 0.05 | |
Exercise Price Range, Upper Range Limit | $ 0.40 | |
Weighted Average Remaining Contractual Life | 2 years 9 months 18 days |
Note 13 - Stockholders' Equit39
Note 13 - Stockholders' Equity (deficit) (Details) - USD ($) | Nov. 10, 2015 | Oct. 31, 2015 | Jun. 30, 2016 | Mar. 31, 2016 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | May 23, 2016 | Feb. 11, 2016 | Feb. 08, 2016 | Jan. 14, 2016 | Nov. 15, 2015 | Nov. 11, 2015 | Oct. 10, 2015 | Jul. 10, 2015 | Apr. 10, 2015 | Feb. 09, 2015 |
Stock based compensation expense | $ 109,500 | $ 485,467 | |||||||||||||||||
Accounting Services Rendered | |||||||||||||||||||
Stock price | $ 0.25 | ||||||||||||||||||
Stock based compensation expense | $ 6,250 | ||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 25,000 | ||||||||||||||||||
Consulting Services Rendered | |||||||||||||||||||
Stock price | $ 0.25 | ||||||||||||||||||
Stock based compensation expense | $ 15,625 | ||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 62,500 | ||||||||||||||||||
Loyl.Me | |||||||||||||||||||
Stock price | $ 0.322 | $ 1.04 | $ 1.47 | $ 2 | |||||||||||||||
Stock based compensation expense | $ 25,000 | $ 25,000 | $ 8,250 | $ 50,000 | |||||||||||||||
Loyl.Me | Common Stock | |||||||||||||||||||
Stock Issued During Period, Shares, License Agreement | 77,640 | 24,038 | 5,612 | 25,000 | |||||||||||||||
Mile High Brands | |||||||||||||||||||
Stock price | $ 0.29 | $ 0.29 | |||||||||||||||||
Shares purchased | 10,000,000 | 10,000,000 | |||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 49.00% | 49.00% | |||||||||||||||||
Value of Original Investment | $ 2,900,000 | $ 2,900,000 | |||||||||||||||||
Mile High Brands | Common Stock | |||||||||||||||||||
Shares Issued | 10,000,000 | 10,000,000 | |||||||||||||||||
Convurge, LLC | |||||||||||||||||||
Stock Issued During Period, Shares, License Agreement | 50,000 | ||||||||||||||||||
Stock price | $ 0.28 | ||||||||||||||||||
Stock based compensation expense | $ 14,000 | ||||||||||||||||||
Brett Harris | |||||||||||||||||||
Stock Issued During Period, Shares, License Agreement | 300,000 | ||||||||||||||||||
Stock price | $ 0.22 | ||||||||||||||||||
Stock based compensation expense | $ 66,000 | ||||||||||||||||||
Tangiers Investment Group, LLC | |||||||||||||||||||
Stock price | $ 0.06 | ||||||||||||||||||
Stock based compensation expense | $ 6,000 | ||||||||||||||||||
Tangiers Investment Group, LLC | Common Stock | Delay of Debt Conversion | |||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 100,000 |
Note 13 - Stockholders' Equit40
Note 13 - Stockholders' Equity (deficit): Schedule of Debt Conversions (Details) | 6 Months Ended |
Jun. 30, 2016USD ($)$ / sharesshares | |
Principal | |
Amount Converted | $ 142,721.95 |
Interest | |
Amount Converted | $ 2,540 |
Common Stock | |
Shares Issued | shares | 41,997,732 |
Blackbridge Capital LLC | |
Amount Converted | $ 45,500 |
Auctus Fund, LLC | |
Amount Converted | 13,604 |
Tangiers Investment Group, LLC | |
Amount Converted | 24,059 |
Adar Bays, LLC | |
Amount Converted | $ 4,415 |
4/29/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 0.069 |
4/29/2016 | Blackbridge Capital LLC | Principal | |
Amount Converted | $ 25,000 |
4/29/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
4/29/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 333,333 |
5/19/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 0.001 |
5/19/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
5/19/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 121,212 |
5/19/2016 | EMA Financial, LLC | |
Price | $ / shares | $ 0.075 |
5/19/2016 | EMA Financial, LLC | Principal | |
Amount Converted | $ 5,250 |
5/19/2016 | EMA Financial, LLC | Interest | |
Amount Converted | $ 0 |
5/19/2016 | EMA Financial, LLC | Common Stock | |
Shares Issued | shares | 70,000 |
5/27/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 0.001 |
5/27/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
5/27/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 2,045,455 |
5/27/2016 | EMA Financial, LLC | |
Price | $ / shares | $ 0.006 |
5/27/2016 | EMA Financial, LLC | Principal | |
Amount Converted | $ 5,500 |
5/27/2016 | EMA Financial, LLC | Interest | |
Amount Converted | $ 0 |
5/27/2016 | EMA Financial, LLC | Common Stock | |
Shares Issued | shares | 1,000,000 |
6/3/2016 | Black Forest Capital LLC | |
Price | $ / shares | $ 0.010 |
6/3/2016 | Black Forest Capital LLC | Principal | |
Amount Converted | $ 10,000 |
6/3/2016 | Black Forest Capital LLC | Interest | |
Amount Converted | $ 0 |
6/3/2016 | Black Forest Capital LLC | Common Stock | |
Shares Issued | shares | 1,000,000 |
6/6/2016 | Auctus Fund, LLC | |
Price | $ / shares | $ 0.011 |
6/6/2016 | Auctus Fund, LLC | Principal | |
Amount Converted | $ 9,592.30 |
6/6/2016 | Auctus Fund, LLC | Interest | |
Amount Converted | $ 2,442.26 |
6/6/2016 | Auctus Fund, LLC | Common Stock | |
Shares Issued | shares | 1,094,051 |
6/8/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 0.004 |
6/8/2016 | Blackbridge Capital LLC | Principal | |
Amount Converted | $ 10,000 |
6/8/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
6/8/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 2,000,000 |
6/8/2016 | EMA Financial, LLC | |
Price | $ / shares | $ 0.003 |
6/8/2016 | EMA Financial, LLC | Principal | |
Amount Converted | $ 3,744.63 |
6/8/2016 | EMA Financial, LLC | Interest | |
Amount Converted | $ 0 |
6/8/2016 | EMA Financial, LLC | Common Stock | |
Shares Issued | shares | 1,272,600 |
6/9/2016 | EMA Financial, LLC | |
Price | $ / shares | $ 0.002 |
6/9/2016 | EMA Financial, LLC | Principal | |
Amount Converted | $ 2,861.69 |
6/9/2016 | EMA Financial, LLC | Interest | |
Amount Converted | $ 0 |
6/9/2016 | EMA Financial, LLC | Common Stock | |
Shares Issued | shares | 1,486,592 |
6/9/2016 | Tangiers Investment Group, LLC | |
Price | $ / shares | $ 0.004 |
6/9/2016 | Tangiers Investment Group, LLC | Principal | |
Amount Converted | $ 10,400 |
6/9/2016 | Tangiers Investment Group, LLC | Interest | |
Amount Converted | $ 0 |
6/9/2016 | Tangiers Investment Group, LLC | Common Stock | |
Shares Issued | shares | 2,701,299 |
6/10/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 0.003 |
6/10/2016 | Blackbridge Capital LLC | Principal | |
Amount Converted | $ 10,000 |
6/10/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
6/10/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 2,857,143 |
6/10/2016 | Black Forest Capital LLC | |
Price | $ / shares | $ 0.003 |
6/10/2016 | Black Forest Capital LLC | Principal | |
Amount Converted | $ 5,000 |
6/10/2016 | Black Forest Capital LLC | Interest | |
Amount Converted | $ 0 |
6/10/2016 | Black Forest Capital LLC | Common Stock | |
Shares Issued | shares | 1,428,572 |
6/10/2016 | Auctus Fund, LLC | |
Price | $ / shares | $ 0.004 |
6/10/2016 | Auctus Fund, LLC | Principal | |
Amount Converted | $ 4,011.67 |
6/10/2016 | Auctus Fund, LLC | Interest | |
Amount Converted | $ 97.79 |
6/10/2016 | Auctus Fund, LLC | Common Stock | |
Shares Issued | shares | 1,067,391 |
6/13/2016 | EMA Financial, LLC | |
Price | $ / shares | $ 0.001 |
6/13/2016 | EMA Financial, LLC | Principal | |
Amount Converted | $ 2,207.27 |
6/13/2016 | EMA Financial, LLC | Interest | |
Amount Converted | $ 0 |
6/13/2016 | EMA Financial, LLC | Common Stock | |
Shares Issued | shares | 2,006,610 |
6/14/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 0.001 |
6/14/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
6/14/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 1,636,364 |
6/14/2016 | Tangiers Investment Group, LLC | |
Price | $ / shares | $ 0.003 |
6/14/2016 | Tangiers Investment Group, LLC | Principal | |
Amount Converted | $ 11,150 |
6/14/2016 | Tangiers Investment Group, LLC | Interest | |
Amount Converted | $ 0 |
6/14/2016 | Tangiers Investment Group, LLC | Common Stock | |
Shares Issued | shares | 3,685,950 |
6/15/2016 | Black Forest Capital LLC | |
Price | $ / shares | $ 0.003 |
6/15/2016 | Black Forest Capital LLC | Principal | |
Amount Converted | $ 5,000 |
6/15/2016 | Black Forest Capital LLC | Interest | |
Amount Converted | $ 0 |
6/15/2016 | Black Forest Capital LLC | Common Stock | |
Shares Issued | shares | 1,818,182 |
6/16/2016 | Tangiers Investment Group, LLC | |
Price | $ / shares | $ 0.002 |
6/16/2016 | Tangiers Investment Group, LLC | Principal | |
Amount Converted | $ 2,509 |
6/16/2016 | Tangiers Investment Group, LLC | Interest | |
Amount Converted | $ 0 |
6/16/2016 | Tangiers Investment Group, LLC | Common Stock | |
Shares Issued | shares | 1,112,639 |
6/17/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 0.001 |
6/17/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
6/17/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 2,020,906 |
6/17/2016 | Black Forest Capital LLC | |
Price | $ / shares | $ 0.002 |
6/17/2016 | Black Forest Capital LLC | Principal | |
Amount Converted | $ 5,022.50 |
6/17/2016 | Black Forest Capital LLC | Interest | |
Amount Converted | $ 0 |
6/17/2016 | Black Forest Capital LLC | Common Stock | |
Shares Issued | shares | 2,450,000 |
6/20/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 0.001 |
6/20/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
6/20/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 1,241,685 |
6/20/2016 | Adar Bays, LLC | |
Price | $ / shares | $ 0.002 |
6/20/2016 | Adar Bays, LLC | Principal | |
Amount Converted | $ 4,415.39 |
6/20/2016 | Adar Bays, LLC | Interest | |
Amount Converted | $ 0 |
6/20/2016 | Adar Bays, LLC | Common Stock | |
Shares Issued | shares | 2,153,846 |
6/21/2016 | Black Forest Capital LLC | |
Price | $ / shares | $ 0.002 |
6/21/2016 | Black Forest Capital LLC | Principal | |
Amount Converted | $ 5,022.50 |
6/21/2016 | Black Forest Capital LLC | Interest | |
Amount Converted | $ 0 |
6/21/2016 | Black Forest Capital LLC | Common Stock | |
Shares Issued | shares | 2,450,000 |
6/22/2016 | Black Forest Capital LLC | |
Price | $ / shares | $ 0.002 |
6/22/2016 | Black Forest Capital LLC | Principal | |
Amount Converted | $ 5,535 |
6/22/2016 | Black Forest Capital LLC | Interest | |
Amount Converted | $ 0 |
6/22/2016 | Black Forest Capital LLC | Common Stock | |
Shares Issued | shares | 2,700,000 |
6/27/2016 | Blackbridge Capital LLC | |
Price | $ / shares | $ 0.002 |
6/27/2016 | Blackbridge Capital LLC | Principal | |
Amount Converted | $ 500 |
6/27/2016 | Blackbridge Capital LLC | Interest | |
Amount Converted | $ 0 |
6/27/2016 | Blackbridge Capital LLC | Common Stock | |
Shares Issued | shares | 243,902 |
Note 14 - Subsequent Events (De
Note 14 - Subsequent Events (Details) - USD ($) | Jul. 27, 2016 | Jul. 15, 2016 | Jul. 08, 2016 | Aug. 17, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Jul. 20, 2016 | Jul. 12, 2016 |
Common Stock | ||||||||
Shares Issued | 41,997,732 | |||||||
Principal | ||||||||
Amount Converted | $ 142,721.95 | |||||||
Adar Bays, LLC | ||||||||
Amount Converted | $ 4,415 | |||||||
Stated Interest Rate | 8.00% | 8.00% | ||||||
Maturity Date | Dec. 16, 2016 | Dec. 10, 2016 | ||||||
Auctus Fund, LLC | ||||||||
Amount Converted | $ 13,604 | |||||||
Stated Interest Rate | 10.00% | 10.00% | ||||||
Maturity Date | Sep. 3, 2016 | Sep. 3, 2016 | ||||||
Subsequent Event | Adar Bays, LLC | Convertible Notes Payable | ||||||||
Price | $ 0.00205 | |||||||
Proceeds from Convertible Debt | $ 20,000 | |||||||
Debt Instrument, Fee Amount | $ 1,142 | |||||||
Subsequent Event | Adar Bays, LLC | Principal | ||||||||
Amount Converted | $ 3,705 | |||||||
Subsequent Event | Adar Bays, LLC | Principal | Common Stock | ||||||||
Shares Issued | 1,500,000 | |||||||
Subsequent Event | Kodiak Capital | Principal | ||||||||
Amount Converted | $ 3,717 | |||||||
Subsequent Event | Kodiak Capital | Principal | Common Stock | ||||||||
Shares Issued | 3,163,353 | |||||||
Subsequent Event | Auctus Fund, LLC | Convertible Notes Payable | ||||||||
Debt Instrument, Fee Amount | $ 5,750 | |||||||
Debt Instrument, Face Amount | $ 45,750 | |||||||
Stated Interest Rate | 10.00% | |||||||
Maturity Date | Apr. 20, 2017 | |||||||
Subsequent Event | F-Squared Enterprises LLC | Common Stock | ||||||||
Conversion of Stock, Shares Converted | 1,515,000 | |||||||
Subsequent Event | F-Squared Enterprises LLC | Series A Preferred Stock | ||||||||
Conversion of Stock, Shares Issued | 1,515,000 |